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News, Technology

SynergyXR Secures €2 Million Investment to revolutionize industrial XR solutions

Danish software company SynergyXR has secured a €2 million investment from Finnish industrial technology-VC, Kvanted, alongside their existing investors. The investment is a targeted boost to help SynergyXR secure topline and bottom-line growth as a preferred XR and spatial computing software provider to industrial companies throughout the Nordics and the United Kingdom.

The next ‘Industrial Revolution’ of the manufacturing, process, and production industries – also known as the Digital Transformation – is well on its way in the Nordics and the United Kingdom.

Danish software provider, SynergyXR, is at the forefront of this transition, with XR and spatial computing technology becoming popular tools for companies to start or scale this process.

Driving transformation with innovative XR–tech

Finnish VC Kvanted recognizes the potential of this technology. Subsequently, Kvanted – and a group of existing SynergyXR investors – have just invested €2 million in the Danish scaleup.

Kvanted specializes in investments in technology companies that improve and disrupt the industrial value chain and shape society for the better, and SynergyXR is a perfect fit for this mission.

“We are thrilled to fuel the fire of innovation by partnering with pioneers who redefine the limits of software and hardware. SynergyXR is not just creating technology; they are crafting the future of industrial digital transformation. Its proven software solution will likely revolutionize manufacturing, offering unparalleled opportunities to improve the safety and development of employees, while at the same time making industrial processes more efficient. This is the kind of tangible, transformative value we are excited to support,” says Eerik Paasikivi, Founding Partner of Kvanted.

Proven technology attracts investors and market interest

Digital transformation is important because it allows organizations to adapt to ever-changing rules and regulations, as well as continually helping organizations improve and innovate.

More importantly, it is a competitive advantage, according to SynergyXR CEO Mads Troelsgaard. Likewise, he argues that the company’s industry-proven technology is a competitive advantage:

“In today’s dynamic digital landscape, transformation is not just about staying relevant; it is about seizing the lead with technology that’s already proven its worth. Despite a tightening investment climate, our ability to not only retain our trusted investors but also welcome Kvanted into our circle is a testament to our vision’s strength and our technology’s impact. This partnership marks a pivotal step towards accelerating our growth across the Nordics and the UK – and Northen Europe and the US, as well – setting new benchmarks for success in our industry.”

Facts and figures

  • The total investment equals €2 million or approximately DKK 15 million.
  • Lead investor is Finnish industrial technology-VC Kvanted (www.kvanted.com).
  • Additional existing investors are EIFO, Innovester, North-East Ventures and AURA Ventures.
  • SynergyXR’s goal is to secure significant topline and bottom-line growth.
  • XR (Extended Reality) is a broad umbrella term that encompasses spatial computing technologies, including virtual reality (VR), augmented reality (AR), and mixed reality (MR).
News

We Are Digital wins PA Housing Contract

Community investment and digital skills training provider We Are Digital has secured a contract with PA Housing to provide in-home digital and financial inclusion training to a targeted group of residents.

The training will prove key to relieving isolation and loneliness in the communities PA Housing supports, delivering mental health improvements by providing access to online services and facilities. All sessions will be delivered remotely on a one-to-one basis.

Residents will be taught how to use tools such as Zoom and Skype to communicate with loved ones and friends and order groceries online. They will also gain greater access to more employment opportunities, learning how to switch suppliers, navigate online banking, and negotiate bills, leaving the course with increased confidence in using technology to enhance their income potential.

A recent survey (July 2020) conducted by the Financial Conduct Authority (FCA) during the pandemic found that 12 million people in the UK had low financial resilience, meaning they may struggle with bills or loan repayments. Two million of these have entered low levels of financial resilience since February 2020.

John Orton, Community Investment Manager for PA Housing commented: “Having worked with We Are Digital for many years we know how great they are at delivering their face-to-face courses. The pandemic has made us look at new and innovative ways to help continue to deliver courses for our residents and We Are Digital’s offer of a digital solution is both innovative and deliverable. Even more so now, ensuring that our residents are digitally included is so important to their current and future wellbeing.”

We Are Digital is a social impact business working with housing associations, local and central government, and corporates to deliver positive and practical solutions to the problem of social exclusion across the UK.